Banco Macro (NYSE:BMA) Stock Price Up 6% – Still a Buy?

Banco Macro S.A. (NYSE:BMA) was up 6% on Tuesday . The stock traded as high as $114.08 and last traded at $113.45. Approximately 192,612 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 366,956 shares. The stock had previously closed at $107.00.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BMA shares. StockNews.com downgraded Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Morgan Stanley raised Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price target for the company in a research report on Monday, December 16th.

Banco Macro Stock Up 7.6 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. The firm has a 50-day simple moving average of $91.98 and a two-hundred day simple moving average of $72.40. The company has a market cap of $7.36 billion, a PE ratio of 10.09 and a beta of 1.68.

Hedge Funds Weigh In On Banco Macro

Several hedge funds have recently bought and sold shares of BMA. Acadian Asset Management LLC acquired a new stake in shares of Banco Macro during the second quarter worth $1,466,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Banco Macro during the second quarter worth $51,000. Seven Eight Capital LP acquired a new stake in shares of Banco Macro during the second quarter worth $1,344,000. Marshall Wace LLP boosted its holdings in shares of Banco Macro by 72.3% during the second quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock worth $9,491,000 after purchasing an additional 69,494 shares during the last quarter. Finally, Duquesne Family Office LLC boosted its holdings in shares of Banco Macro by 30.9% during the second quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock worth $15,659,000 after purchasing an additional 64,400 shares during the last quarter.

About Banco Macro

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.